A new $180 million masterplanned residential village named Monterea Ripley has been launched in Ipswich's booming Ripley Valley growth corridor, an area currently at the centre of billions of dollars worth of residential development.
The 900-lot Monterea project will add to a list of exisiting projects in the area, including the 7,000-lot Amex Corporation developed
Providence South Ripley and the 2000-lot Ecco Ripley project.
Monterea Ripley is being developed by Gerry and Patrick McHale and will feature 900 home sites on a land area of approximately 146 acres within the picturesque Ripley Valley, and the new development will feature 22 acres of "green open space" as part of its Green Space Master Plan.
Recently released traffic data for 2016 confirmed that South Ripley and Springfield were indeed booming. The data, for council-controlled roads in 2016, counted daily volume of traffic with Ripley Rd recording a 68% increase in vehicles using it from 2015.
The area is extremely popular with first home buyers with 90% of buyers at Providence being owner-occupiers, according to its sales and marketing agent Brinton Keath of Oliver Hume.
Mr Keath, Oliver Hume's Joint Managing Director in Queensland, said the Ripley Valley would continue to experience strong demand while lots remained affordable and community infrastructure continued to come on line.
“We expect developments with family-style infrastructure – like the new waterpark and community centre at Providence – will be popular with buyers and they will separate themselves from the competition in terms of price growth,” he said.
About 120,000 people are expected to call the Ripley Valley home over the next 20 years and construction is underway on the $1.5 billion Ripley Town Centre.
Monterea marketing agent, Ray White's Jamie Martin, said 20 sales had already been achieved in the first stage of the project, with land prices starting from $166,000 and lots ranging in size from 300 sqm to 531 sqm.
“The first stage release of 53 lots is under construction with completion due in May while stage two has now commenced construction of 53 lots,” Mr Martin said.
Monterea Ripley proposed master plan.
“The green space will play host to a range of recreational amenities including open turfed areas for kick and play, an adventure playground, BBQ shelters and water fountains, sheltered picnic areas, walkways, multi-sports court and public amenities,” he said.
“Monterea Ripley forms an integral part of the Monterea Neighbourhood Village and will be located directly next door to a proposed 8000 sqm shopping centre including a major supermarket, speciality retail shops and commercial precinct with a total of 636 car parks.
“The village will also feature two sporting ovals with club house, BBQ facilities and children play area."